External refereed essays

A Post-2020 EU Energy Technology Policy: Revisiting the Strategic Energy Technology Plan

With the European Strategic Energy Technology Plan (SET Plan) expiring in 2020, the EU needs to revisit its energy technology policy for the post-2020 horizon and to establish a policy framework that fosters the achievement of ambitious EU commitments for decarbonization by 2050. We discuss options for a post-2020 EU energy technology policy, taking account of uncertain technology developments, uncertain ...

The Macroeconomic Determinants of Private Equity Investment: A European Comparison

A strong private equity (PE) market is a cornerstone for commercialization and innovation in modern economies. However, substantial differences exist in the relative amounts raised and invested in PE across European countries. We investigate the macroeconomic determinants of PE investment in Europe, focusing on the comparison between Central and Eastern European (CEE) and Western European countries. ...

The Cyclicality of Automatic and Discretionary Fiscal Policy: What Can Real-Time Data Tell Us?

This paper develops a new methodology for estimating both the automatic and discretionary components of fiscal policy in one reaction function using the differences between real-time and ex post data. Discretionary policy should respond to information available to the policy maker at the time (real-time data), whereas automatic fiscal policy should respond to the true state of the economy at the time ...

Paneldaten in der Soziologie: Fixed Effects Paradigma und empirische Praxis in Panelregression und Ereignisanalyse

In der soziologischen Methodenforschung werden Paneldaten als Instrument diskutiert, welches eine fundiertere Überprüfung einer kausalen Hypothese als Querschnittsdaten ermöglicht. Zur Realisierung dieses Potenzials ist allerdings die Isolierung intraindividueller Zusammenhänge im Rahmen der Schätzprozedur notwendig. Bei multivariaten Regressionsanalysen leistet dies die Fixed Effects Regression, welche ...

Italy's Fiscal Crisis

Italy is presently one of the most vulnerable economies in the eurozone. Over the past twenty years it has failed to adapt to increasing global competition and its public finances have deteriorated dramatically. Even with huge fiscal support from the other members of the eurozone, Italy’s perspectives look rather bleak. How did this situation come about? Did Italy’s EMU membership make things wors ...

Terrorism Risk Concern in Europe

Motivated by the Bayesian framework, we explore terrorism risk perception differences across European countries. Perception variation is explained by the long-term terrorism countries face, while the cyclical part of terrorism does not seem to play any role.

Trends in Economic Research: An International Perspective

Given the recent efforts in several countries to reorganize the research institutional setting to improve research productivity, our analysis addresses the following questions: To which extent has the recent awareness over international quality standards in economics around the world been reflected in research performance? How have individual countries fared? Do research quantity and quality indicators ...

A Structural Approach to Estimating the Effect of Taxation on the Labour Market Dynamics of Older Workers

We estimate a dynamic structural life-cycle model of employment, non-employment and retirement that includes endogenous accumulation of human capital and intertemporal non-separabilities in preferences. In addition, the model accounts for the effects of income tax, social security contributions and the transfer system on work incentives. The structural parameter estimates are used to evaluate the employment ...

Existenzgründungsförderung in Deutschland: Zwischenergebnisse aus der Hartz-Evaluation

Fiscal Policy Rules for Stabilisation and Growth: A Simulation Analysis of Deficit and Expenditure Targets in a Monetary Union

We analyse the effectiveness of fiscal policy rules for business cycle stabilisation in a monetary union using a quarterly macro-econometric model of Germany. The simulations compare a deficit target and an expenditure target under a range of supply, demand and fiscal shocks. Their effects are evaluated by their impact on prices and output. The analysis demonstrates that in general the deficit target ...

Die Dauer von Arbeitslosigkeit in Deutschland und Großbritannien: ein internationaler Vergleich (1990-1995)

Maternal Labor Market Return and Domestic Work after Childbirth in Britain and Germany

This study investigates how the duration of maternal labor market interruptions and mothers' employment status after return relate to the division of domestic work in couples after childbirth in West Germany, East Germany, and Britain. It extends the literature by considering how these two aspects of postnatal labor market return decisions of mothers may give rise to or counteract growing gender inequality ...

A Description of the Operative Decision-Making Process of a Power Generating Company on the Nordic Electricity Market

In a liberalised electricity market, power generating companies face various trading possibilities. In addition, they have to take scheduling decisions. Both kinds of decisions are affected by uncertainties, e.g. power plant outages, uncertain market prices for electricity or imperfect wind power forecasts. This paper presents an overview of the decision-making process of a power generating company ...

Temporary Agency Work and Firm Competitiveness: Evidence from German Manufacturing Firms

This paper addresses the relationship between the utilization of temporary agency workers by firms and their competitiveness measured by unit labor costs, using a rich, newly built, dataset of German manufacturing enterprises. We conduct the analysis by applying different panel data models while taking the inherent selection problem into account. Making use of dynamic panel data models allows us to ...

Differential Income Taxation and Household Asset Allocation

This article empirically investigates the effects of differential income taxation on households' portfolio choice and asset allocation, applying a two-stage budgeting model of asset demand to German survey data. The model is structured into the discrete and the continuous asset choice. Cross-sectional variation in marginal tax rates, appropriately instrumented, as well as over-time variation from a ...

Mode of Birth and Social Inequalities in Health: The Effect of Maternal Education and Access to Hospital Care on Cesarean Delivery

Access to health care is an important factor in explaining health inequalities. This study focuses on the issue of access to health care as a driving force behind the socialdiscrepancies in cesarean delivery using data from 707 newborn children in the 2006-2011 birth cohorts of the German Socio-Economic Panel Study (SOEP). Data on individual birth outcomes are linked to hospital data using extracts ...

Parental Leave and Domestic Work of Mothers and Fathers: A Longitudinal Study of Two Reforms in West Germany

Following two parental leave reforms in West Germany, this research explores how child care and housework time changed among couples who have just had a child. The reform in 1992 extended the low paid or unpaid parental leave period, whereas the 2007 reform introduced income-dependent compensation and two "daddy months". This study contributes to the literature by examining different mechanisms on ...

Labor and Love: Wives' Employment and Divorce Risk in Its Socio-political Context

We theorize how social policy affects marital stability vis-à-vis macro and micro effects of wives' employment on divorce risk in 11 Western countries. Correlations among 1990s aggregate data on marriage, divorce, and wives' employment rates, along with attitudinal and social policy information, seem to support specialization hypotheses that divorce rates are higher where more wives are employed and ...

Turning the Switch: An Evaluation of the Minimum Wage in the German Electrical Trade Using Repeated Natural Experiments

The introduction, abolition and subsequent re-introduction of the minimum wage in the German electrical trade gave rise to series of natural experiments, which are used to study minimum wage effects. We find similar impacts in all three cases on wages, employment and the receipt of public welfare benefits. Average wages are raised by the minimum wage in East Germany, but there is almost no evidence ...

Information Asymmetry and Reentry